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I always find some people really ridiculous to deem Bitcoin as a Ponzi Scheme. It is absurd to label bitcoin a Ponzi scheme. At any rate a Ponzi scheme uses current inflows to pay “profits” to the earliest “investors” and the earlier you get in the more you make while the last one into the scheme finds he has no chair when the music stops. Bitcoin market, in contrast, works exactly the same as stocks market, nowhere near being a Ponzi Scheme. I can't understand what they are thinking.
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Blockchain can be quite resilient, it can also be a way to create greater transparency into central banking, more credibility because of the rules a blockchain-based system enforces. Nowadays, banks are thinking about moving to a electronic money-based system, so Blockchain, with the above features, is of great importance.
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Personally, I think property is lass riskier than Bitcoin. And if you have a family now, you have responsibility to bring home the bacon. Investing all your money and assets in Bitcoin, you're likely to become homeless. I recommend that you divide your investment into 2 types, in property and Bitcoin. For Bitcoin stick to small goal and achieve it.
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Digitalization is trendy, and Bitcoin is a digital asset, so Bitcoin is trendy. But that doesn't mean Bitcoin is able to get rid of fiat money. Bitcoin will lose it dependence on fiat money only when it replaces all existing currency, since using Bitcoin is somewhat risky and users always want to secure their asset and money is the most secure asset. However. is there any chance Bitcoin will beat fiat money to become the best method of payment and the best store of value? I don't think so.
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Humans in general have a natural tendency to overreact to both positive and negative news. We hear bad news and we think the sky is falling and Bitcoin will soon hit zero and die! We should be calmer and seperate our emotions from our decision when entering investing.
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He's biased because as the CEO of PayPal, he is considering Bitcoin as a competitor with his product.
"We've got digital currencies. And we've got digital currencies that are more stable, more widely accepted and have intrinsic value. We've already got it — it's called the dollar, the yen, you name it," Harris said. So doesn't he care about the technology behind Bitcoin - what makes it different from those traditional currencies? Is he scared that Bitcoin will take over the market and PayPal will fail to compete?
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Bitcoin is easy to be manipulated. Even stock markets which are protected by states with strict regulations are manipulated sometimes, while Bitcoin is new and doing without governmental intervention. Don't be panic. Just calmly research the fluctuation of the markets.
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There are few countries that are open to Bitcoin, while the number of country keeping vigilant against Bitcoin isn't small. It's because it has a bunch of problems which has yet to be improved. Take Bitcoin as an general example. One of the most important risk factors for bitcoin is security. Although personal wallets can be encrypted, and the SHA-256 encryption algorithm of bitcoin itself is considered extremely secure, should a vulnerability be found and exploited, it could have a catastrophic impact on bitcoin’s reputation.
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Up to now, people still prefer cash than Bitcoin. The liquidity of Bitcoin is much less than regular money, which means holding Bitcoin is risky. There are quite a few merchants accept payment in Bitcoin but the number of that isn't really significant. Moreover, you know, Bitcoin is irreversible. Once you send money mistakenly, you can't let your money back unless the receiver agree to repay you.
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